Conquis Financial LLC Makes New $62,000 Investment in HP Inc. (NYSE:HPQ)

Conquis Financial LLC bought a new position in HP Inc. (NYSE:HPQ) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,897 shares of the computer maker’s stock, valued at approximately $62,000.

Several other institutional investors have also modified their holdings of HPQ. Pitcairn Co. grew its position in HP by 8.1% in the fourth quarter. Pitcairn Co. now owns 96,471 shares of the computer maker’s stock worth $3,148,000 after acquiring an additional 7,251 shares during the period. Westpac Banking Corp lifted its stake in shares of HP by 24.6% in the 4th quarter. Westpac Banking Corp now owns 133,275 shares of the computer maker’s stock valued at $4,349,000 after purchasing an additional 26,316 shares during the last quarter. Huntington National Bank grew its holdings in shares of HP by 11.0% during the 4th quarter. Huntington National Bank now owns 89,908 shares of the computer maker’s stock worth $2,934,000 after purchasing an additional 8,893 shares during the period. Kesler Norman & Wride LLC increased its position in shares of HP by 50.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 20,990 shares of the computer maker’s stock worth $685,000 after purchasing an additional 7,019 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in HP by 2.7% in the 4th quarter. Meeder Advisory Services Inc. now owns 17,348 shares of the computer maker’s stock valued at $566,000 after buying an additional 456 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Cowen dropped their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Sanford C. Bernstein upped their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, HP currently has a consensus rating of “Hold” and an average target price of $36.14.

HP Trading Down 14.7 %

HP stock opened at $23.78 on Friday. The stock has a market cap of $22.42 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The company has a fifty day simple moving average of $30.98 and a 200-day simple moving average of $33.79. HP Inc. has a 12-month low of $22.95 and a 12-month high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.87%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.